KUALA LUMPUR, Nov 5 (Bernama) -- Bursa Malaysia closed higher, buoyed by Bank Negara Malaysia’s (BNM) decision to maintain the Overnight Policy Rate (OPR) at 2.75 per cent, alongside positive cues from Wall Street. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 19.30 points, or 1.19 per cent, to 1,635.86 from Wednesday’s close of 1,616.56. The benchmark index opened 6.72 points higher at 1,623.28, and fluctuated between an intraday high of 1,642.44 and a low of 1,622.62 during the trading session. However, market breadth was negative, with losers outnumbering gainers 723 to 497, while 466 counters were unchanged, 1,075 untraded and 10 suspended. Turnover rose to 3.74 billion units valued at RM3.61 billion compared with yesterday’s 2.81 billion units valued at RM2.57 billion.
Key Takeaways Bitcoin fell to its lowest level in 21 months , pressured by expectations of higher US interest rates and persistent ETF outflows. More than US$4 billion exited US-listed Bitcoin ETFs in June , highlighting weakening institutional demand. Concerns over Strategy's future Bitcoin purchases have undermined confidence in one of the cryptocurrency's largest corporate supporters. Bitcoin has dropped over 50% from its record high and fallen below its 200-week moving average, reinforcing bearish technical sentiment. This week's US nonfarm payrolls report could become the next major catalyst for cryptocurrency markets. Market Overview Bitcoin extended its sharp decline on Wednesday, falling to US$57,742 , its lowest level since September 2024, as investors continued to reduce exposure to risk assets amid growing expectations that the US Federal Reserve will keep monetary policy tighter for longer. The cryptocurrency has struggled under the ...